State of the Housing Market in Bristol 2013
|
|
- Augusta Strickland
- 6 years ago
- Views:
Transcription
1 State of the Housing Market in Bristol 2013 Housing Stock Bristol has 190,000 homes, and plans to increase this by around 13,000 by Currently 15% of stock is owned by the city council, 6% by housing associations, 55% i Bristol Stock by Tenure 2012 DEMAND Source CLG Table 100/2011 Census Housing Need There is a shortage of affordable housing in Bristol. More than 1,500 new affordable homes would be required each year to house existing and newly forming households who cannot afford to buy or rent in the market. The need is predominantly for rented homes, with a shortage of smaller homes and larger houses for families. The Strategic Housing Market Assessment 2009 found is owner occupied and 24% private rented 1. Private rental has overtaken the entire social sector, and is becoming the destination tenure for younger households and those on median and lower incomes who cannot afford to buy. that net need for 4+ bedroom homes compared to supply from relets stood at 20:1, compared to 4:1 for one bedroom homes in Bristol 1. From April 2013 benefit deductions for working-age social tenants with rooms surplus to assessed need is likely to result in increased requests for transfer Housing register applicants, including 2100 existing social tenants in 2 bed homes hit by benefit deductions, require 1 bed accommodation. In studio or 1bed affordable homes were let, by 2013 this had fallen to 600 a 25% decline in supply in just 2 years. Housing Register New Applicants 8,562 10,426 10,212 9,928 Transfers 4,180 4,575 4,373 4,432 Total Applicants 12,742 15,001 14,585 14,360 Source : Bristol Housing Register Inside this issue Housing Stock DEMAND Housing Need Housing Register Homelessness Preventing homelessness Effects of Welfare Reform Repossession SUPPLY Planning permissions Housebuilding starts and completions Affordable Housing Supply Letting of affordable homes Right to Buy Sales Market Sales Market Prices Sales Turnover by Price Price Change Over Time Ratio of Lower Quartile House prices to Lower Quartile Earnings Affordability Mortgage Rates Private Rental Market Local Housing Allowance Bristol Rental Market Area Market Rents SUMMARY 1. Wes of England Strategic Housing Market Assessment General needs lets, excludes Sheltered/Elderly as deduction applies only to working age households 1
2 Homelessness Numbers of households at risk of homelessness approaching the council for help is increasing. The council has a duty to house households in priority need (eg families with children or vulnerable people who become homeless. Because of the shortage of affordable homes some households will be helped to find a home in the private sector. With private rents Rising and benefits becoming restricted by welfare reform, it is become increasingly difficult to find a home that these households can afford. Loss of private tenancy as an increasing cause of homelessness is a very concerning trend. The number of homeless family households placed in temporary accommodation whilst awaiting a suitable home has been increasing year on year. Statutory Homelessness Total Homelessness Decisions Duty Accepted Of which reason was loss of private rent tenancy Source: P1E returns Households in Temporary Accommodation Total placements Families Single people Source: P1E returns Preventing Homelessness Prevention services help households to avoid becoming homeless, often by helping to secure, or remain in a private tenancy. Alongside increasing homelessness the number of households approaching the council for help continued to rise. Use of private renting for households seeking help from the council is falling. Increasing demand from households unable to buy is driving up rents at the same time as the capped Local Housing Allowance (LHA) for Households in benefit is failing to keep pace with rent inflation. Source: BCC Prevention Services Effects of Welfare Reform Early effects of Welfare Reform are seen in the increase in applications for Discretionary Housing Payments. 74% of awards were to households affected by under-occupation deductions, 21% for LHA shortfall. After a Q fall, an increase is expected in August with the introduction of Universal Household Benefit Cap. Number of Applications received DHP applications received 2013 compared to 2011 & / / / Apr Jun Aug Oct Dec Feb 2
3 Repossessions The rate of mortgage repossession has been restrained since 2008 by low interest rates and lender forbearance. Landlord and Mortgage Possession Claims and Orders in Bristol A rise in mortgage interest rates predicted for 2016 risks pushing up mortgage repossessions. Landlord possession claims and orders have shown an upward trend from a low point in Source: Ministry of Justice SUPPLY Planning Permissions The number of total applications has fallen by 30% over the past 5 years. Applications for major sites of more than 10 dwellings stand at Development Applications and Decisions 2006/ / / / / /12 City Development Annual Monitoring Report % of their 2007 level. Developments given planning permission have averaged around 2,400 over the past three years, and are yet to recover to pre-credit crunch levels. However, the proportion of all developments granted consent has been above 80% in Bristol, higher than the national average of 70%. Total Decisions Total Granted and are flatted Developments for which the predominantly first-time buyer market had collapsed since the 2008 credit crunch. It remains to be seen whether Government Help to Buy measures (see below) will be able to stimulate development and subsequent purchase market for these units, either from first-time buyers or buy to let investors. The number of homes with planning permission but not started stood at 5,437 in April 2012, down from 8,903 in Almost two thirds of outstanding permissions are concentrated in the city centre 3
4 Housebuilding Starts and Completions Housebuilding continues the decline which began in , with the most dramatic fall in private sector completions. Source: BCC City Development Affordable Housing Supply The delivery of affordable homes has declined steeply since Completions in contain schemes funded under the Affordable Housing Programme which have continued to be built out. Since 2010 affordable completions are down by 60%. However starts of affordable homes by Housing Associations at April 2013 are down by 80% and this will be reflected in lower levels of completions this year. Schemes funded under the government programme for affordable homes are expected to deliver around 100 units in The fall in supply is mainly due to two factors, firstly the introduction of the new Affordable Homes Programme with reduced funding had a slow start leaving a gap in delivery, secondly that on average, 30% of affordable homes have been delivered through S106 requirements on private residential developments, and this supply has declined with the slump in private sector building.. Source: HCA (amended) (Excludes HBD/Firstbuy market stimulus programmes not defined as Affordable Housing) Letting of Affordable Homes The greater part of supply of affordable housing comes through re-letting of existing stock when tenants leave. In an economic climate where tenants have fewer affordable alternatives BCC relets are declining, total RP lets will be reduced next year because of the fall in completions of new affordable homes described above which have made up a proportion of their overall lettings.. 4
5 Council Homes Housing Association All New BCC New Lettings Financial year Transfers Apps Total Transfers Apps HA Total 2009/ / / n/a n/a Source ELASH Council Lets/HCB HA Lets (excludes mutual exchange) Demand for transfers is likely to increase from working-age social tenants who have a home which is larger than their assessed need have benefit deductions applied from April Right to Buy Sales Applications Completions Source : BCC Home Ownership In April 2012 the government introduced changes to the Right to Buy increasing maximum discounts from 36,000 to 75,000 or 60% of open market value for houses, 70% for flats. Since the announcement the rate of applications has more than doubled, and sales tripled. This trend is likely to continue wiping out any gains under the council s new house building programme Private Housing Market The volume of market sales has dropped, reflecting the slump in the building of new homes. At the same time, and related to this, lack of supply is driving up prices which now match 2006 levels. Market Sales Annual Housing Sales 6,000 5,000 Number 4,000 3,000 2,000 2nd Hand House Sales 2nd Hand Flat Sales New Build House Sales New Build Flat Sales Total 1, Year Source: Hometrack 5
6 Market Prices Bristol Lower Quartile Houseprices , , , , , , , , , ,000 Q4 Q4 Q4 Q4 Q4 Q4 Q Source CLG Sales Turnover by Price Volume of Sales by Value under 50K K K K K K K K K K 800K-1.0M M 1.75M-2.0M Source: Hometrack 2012 The greatest reduction in the volume of property sales in the ,000 price range which reflects the decline in the number of first-time buyers able to access the market. Although aspirations to home ownership remain high, with two thirds of private tenants wanting to own, lack of access to mortgage and deposit is more frequently cited than mortgage affordability as the reason for renting. 3 Recent rises in the price of the cheapest (lower quartile) homes will not ease this situation unless it stimulates development of new homes, and is matched by lower deposit requirements. Affordability Affordability is measured by the relationship between the price of the cheapest homes and lower level earnings. Homes at the bottom of the market still cost almost eight times the earnings of poorer households. Bristol wages have remained level or fallen behind inflation in the current economic climate. 4 3 UK Housing Review 2013 Wilcox & Perry 4 ASHE
7 Mortgage Lending and Interest Rates Since 2009 Bank of England interest rates have stood at 0.5%. Standard variable mortgage lending rates have remained steady at around 4%, for borrowers with a 25-40% deposit. Bank of England base rates are predicted to remain at all time low until , although interest rates to borrowers may rise. Despite historically low interest rates, mortgage lending running at at 140bn a year compared to 350bn in Measures announced in the budget to boost lending appear to be having an effect on the market. The Equity Loan Scheme from April 2013 funds up to 20% of value and is expected to support some 74,000 purchases of new dwellings. A Mortgage guarantee scheme available from January 2014 to provide 12bn in government guarantees is expected to support up to 130 bn in low-deposit mortgages. This scheme covers new and existing properties. In combination the schemes may boost lending to 200bn for their (currently) proposed three year span. Both schemes require 5% deposit, excluding up to a fifth of first-time buyers. Both schemes are open to all (not just first time) buyers on properties up to 600,000. Concerns have been widely expressed that the scheme risks creating house price inflation should the scheme fail to stimulate an increase in housebuilding. A housing bubble could attract overseas investment in the UK market further restricting supply for local buyers. Nationally average prices are expected to rise by 18% over the next 5 years 6, and interest rates begin to increase in Alongside interest rates, affordability is affected by two further factors; the loan to value ratio (LTV), which determines deposit requirements, and income multiples applied by lenders. Outside of the stimulus schemes, lenders are requiring higher deposits, and lending lower multiples. Loan to value ratios between 60% and 75% apply currently, the Council of Mortgage Lenders sees LTV gradually returning to 90% by Existing owner-occupiers with equity can and do fund larger deposits. Higher deposit requirement have introduced an effective wealth barrier, as well as an income barrier for first time buyers. Where high LTV mortgages are available, interest rates are also higher. Loans to first time buyers have increased by 42% over last year, but net lending is flat, signalling that existing owners are paying off debt while interest rates remain low, to avoid pain later, at a time when incomes are falling in real terms. 4 5 Capital Economics 6 Savills 7
8 Private Rental market Private Rents and Welfare Reform Source: BCC Benefits/Alex Fenton LSE This Map shows the size and location of the private rented market in Bristol, and indicates the proportion of the market which is supported by housing benefit in different parts of the city. The Local Housing Allowance (LHA) limits the amount of housing benefit payable by size of home needed. As part of the programme of welfare cuts, the LHA has been restricted in a number of ways. In April 2011 the five bedroom rate was abolished, and rates for smaller homes capped. From the same date, LHA rates were re-based on rents for the bottom 30% of lettings, rather than the middle of the market. From January 2012 single people under 35, rather than 25, were restricted to the rate for a single room. In April 2013 the LHA was up-rated by (the lower of) rent inflation for properties at the bottom of the market.or CPI at 2.2%. From 2014 increases will be capped at actual rent inflation, or 1%, whichever is the lower, drifting further below the market. Local Housing Allowance Bristol Rental Market Area April Room 1 bed 2 bed 3 bed 4 bed 5 bed 2010 (50%ile) (30%ile) n/a 2012 (30%ile) n/a 2013 (30%ile) n/a Source: Valuation Office Agency (VOA) These measures were in part prompted by the rapid increases in the benefit bill as households on low to middle incomes, unable to buy, or to find a social rented home, settled in the private rented sector and needed help with rent. The table above shows that by 2012 rents at the bottom of the market (30%ile) had generally overtaken the 2010 median market rate, demonstrating a rising market. In addition, CPI stood at 5.2% in September 2011, and 8
9 determined the uprate in LHA for April By September 2012 it had fallen to 2.2%. holding down LHA levels for The LHA cuts were intended to hold down the benefit bill. Higher market rents and more expensive affordable rents set at 80% market rates, which will form the major part of future supply of new Housing Association homes will tend to work in the opposite direction as low income households will require benefit to afford a housing association home. Market Rents At a time of growth in the Private Rented Sector, rents are rising. Annual inflation rates show that with the exception of 1 and 2 bed homes, rents have risen above the 2.2% CPI increase in the Local Housing Allowance in bed average rents for the city have risen by 13.6%, moving further ahead of LHA rates and pricing larger families out of the market LHA restriction to 1% will make things worse. Rising private rents may yet have a role to play in stimulation of housing delivery to provide additional new, and good quality private rented homes in the city, and by implication, may make a contribution to the delivery of affordable rented homes on currently stalled sites. Lower Quartile Rents Room 1 bed 2 bed 3 bed 4 bed March ,100 June ,100 Sept ,150 Dec ,196 March ,250 Annual Inflation 7% 0.6% 1.6% 4.1% 13.6% Source: VOA Quarterly Statistics Residential Rents Source: VOA Quarterly Statistics Residential Rents 9
10 Summary Steeply rising rents for larger houses reflect competition from students or young professionals priced out of owner/occupation. An anticipated increase in student numbers at Bristol University may create a need for an additional 3000 bed spaces by Rising rents may also reflect demand for larger shared houses as single households in benefit are restricted to the single room rate of LHA. For larger families seeking private rented homes it means higher rents. Significantly in 2014 the LHA will increase by 1% regardless of actual rent inflation for larger properties which even at the LQ is running very far ahead at 13.6% leaving tenants to find the shortfall. Schemes to ease entry into owner-occupation, if successful, may ease pressure on private renting, but this is very unlikely to significantly lower rents for larger properties to a level that would help larger families on low incomes. For the foreseeable future private renting will remain the default option for younger households. Low interest rates are not sufficient to allow access to purchase in a restricted lending market. Interest rates are forecast to rise from 2016, which, combined with rising houseprices, will further increase the cost of home ownership. Equity Loan and Mortgage guarantee schemes risk inflating house prices rather than increasing supply to the levels required to meet demand, and contributing to the emerging trend of house price inflation. Rising rents and restricted benefit levels are set to squeeze households on the lowest incomes and have been shown to be an increasing cause of homelessness. In an already tight and expensive housing market, shortage of supply means high or even higher prices to rent or buy will prevail. This signals an increase in housing need from households priced out of the market at the same time as a projected fall in the number of new affordable homes being built, and a sharp increase in Right to Buy sales. Useful Links West of England Partnership Strategic Housing Market Assessment: housing/housing-marketpartnership/strategic-housing-marketassessment If you have any queries, please contact Marie Price Strategic Housing Neighbourhoods Amelia Court Pipe Lane Bristol BS1 5AA Tel: marie.price@bristol.gov.uk Bristol s Housing Strategy my home is my springboard for life : Bristol Core Strategy 10
No place to live. A UNISON survey report into the impact of housing costs on London s public service workers
No place to live A UNISON survey report into the impact of housing costs on London s public service workers 1 FOREWORD Public services are critical to the London economy. Good transport and housing, quality
More informationAn innovative approach to addressing the housing crisis. A new model for affordable housing
An innovative approach to addressing the housing crisis A new model for affordable housing April 2015 Why do we need a new affordable housing model? Housing sector background Nationally and locally, demand
More informationAn Introduction to Social Housing
An Introduction to Social Housing This is an introductory guide to social housing and the role of housing providers in England and Scotland (where Riverside has stock). It focuses on the following key
More informationImpact of welfare reforms on housing associations: Early effects and responses by landlords and tenants
Impact of welfare reforms on housing associations: Early effects and responses by landlords and tenants For the National Housing Federation February 2014 Legal notice 2014 Ipsos MORI all rights reserved.
More informationAn innovative approach to addressing the housing crisis CIH Eastern Region Conference & Exhibition Master Class
An innovative approach to addressing the housing crisis CIH Eastern Region Conference & Exhibition Master Class 10 November 2015 Why do we need a new Affordable Housing option? Why do we need a new Affordable
More informationThe impact of the bedroom tax on stock management by social landlords March 2014
The impact of the bedroom tax on stock management by social landlords March 2014 www.cihscotland.org If you have any questions about this survey please contact david.bookbinder@cih.org Tel: 0131 225 4544
More informationThames Gateway South Essex
Thames Gateway South Essex Housing Market Trends Quarterly Report April 2015 House Prices, Affordability & Market Indicators www.tgessex.co.uk Housing Market Trends Quarterly Report April 2015 Introduction
More informationCambridge sub region SHMA 2013
Private renting Interest and relevance This chapter looks at the private rented sector and the cost of private rents for our housing subregion. It is relevant to the SHMA because it helps understand an
More informationPOLICY BRIEFING. ! Housing and Poverty - the role of landlords JRF research report
Housing and Poverty - the role of landlords JRF research report Sheila Camp, LGIU Associate 27 October 2015 Summary The Joseph Rowntree Foundation (JRF) published a report in June 2015 "Housing and Poverty",
More informationShared ownership. meeting aspiration
Shared ownership meeting aspiration The challenge housing s vicious cycle We are simply not building enough homes in England for rent or sale. Last year, 240,000 new households formed, but only 111,250
More informationHigh Level Summary of Statistics Housing and Regeneration
High Level Summary of Statistics Housing and Regeneration Housing market... 2 Tenure... 2 New housing supply... 3 House prices... 5 Quality... 7 Dampness, condensation and the Scottish Housing Quality
More informationROTHERHAM METROPOLITAN BOROUGH COUNCIL S STRATEGIC TENANCY POLICY,
ROTHERHAM METROPOLITAN BOROUGH COUNCIL S STRATEGIC TENANCY POLICY, 2013-2018 1 1 INTRODUCTION Page 3 2 BACKGROUND Page 3 3 STRATEGIC CONTEXT Page 4 3.1 National 3.2 Local 4 HOUSING IN ROTHERHAM Page 5
More informationBudget January A submission from the National Housing Federation. Introduction and summary
29 January 2016 Budget 2016 A submission from the National Housing Federation Introduction and summary Britain is in the midst of a housing shortage that has been a generation in the making. As a nation
More informationThames Gateway South Essex
Thames Gateway South Essex Housing Market Trends Quarterly Report April 2010 House Prices, Affordability & Market Indicators Housing Market Trends Quarterly Report April 2010 Introduction This report monitors
More informationRent Setting Policy
Rent Setting Policy 2016-2017 Contents 1. Scope 2. Policy statement 3. Monitoring and evaluation 4. Conditions and exceptions to policy 5. Policy equality and diversity statement 6. Resident/Tenant involvement
More informationHousing Need in South Worcestershire. Malvern Hills District Council, Wychavon District Council and Worcester City Council. Final Report.
Housing Need in South Worcestershire Malvern Hills District Council, Wychavon District Council and Worcester City Council Final Report Main Contact: Michael Bullock Email: michael.bullock@arc4.co.uk Telephone:
More informationThe introduction of the LHA cap to the social rented sector: impact on young people in Scotland
The introduction of the LHA cap to the social rented sector: impact on young people in Scotland Brought to you by the Chartered Institute of Housing Executive Summary About the research This research was
More informationResidential Commentary Sydney Apartment Market
Residential Commentary Sydney Apartment Market April 2017 Executive Summary Sydney Apartment Market: Key Indicators 14,200 units are currently under construction in Inner Sydney with completion expected
More informationBulletin Issue 41 Nov 2017 Housing Market Overview
STOCKPORT HOUSING STRATEGY Housing Market Quarterly 1 Bulletin Issue 41 Nov 2017 Housing Market Overview UK House prices grew by 5.0% in the year to October 2017. In terms of housing demand the Royal Institution
More informationOrigin Housing. Welfare Reform under 35 s. November Great Homes Positive People Strong Communities
Origin Housing Welfare Reform under 35 s Katri Wilson Assistant Director November 2016 Alev Horgan Head of Housing The application of the LHA cap to social tenancies will severely restrict the amount of
More informationQueens Drive regeneration: Swindon Council's unaffordable housing strategy
Queens Drive regeneration: Swindon Council's unaffordable housing strategy Swindon's housing crisis has been described as a crisis of affordability. Much of the town's housing in unaffordable for a large
More informationResponse. Reinvigorating the right to buy. Contact: Adam Barnett. Investment Policy and Strategy. Tel:
Response Contact: Adam Barnett Team: Investment Policy and Strategy Tel: 020 7067 1114 Email: Adam.Barnett@housing.org.uk Date: February 2012 Ref: RE.IN.2012.RE.01 Registered office address National Housing
More informationARLA Members Survey of the Private Rented Sector
Prepared for The Association of Residential Letting Agents ARLA Members Survey of the Private Rented Sector Second Quarter 2014 Prepared by: O M Carey Jones 5 Henshaw Lane Yeadon Leeds LS19 7RW June, 2014
More informationBudget 2018: What are the key resi announcements?
Budget 2018: What are the key resi announcements? From Theresa May s Conservative Party conference promise to scrap council borrowing caps, to plans to increase stamp duty for overseas buyers and an analysis
More informationScottish Parliament Social Security Committee Social Security Support for Housing Written Submission from ARLA Propertymark March 2019
Scottish Parliament Social Security Committee Social Security Support for Housing Written Submission from ARLA Propertymark March 2019 Background 1. ARLA Propertymark is the UK s foremost professional
More informationA matter of choice? RSL rents and home ownership: a comparison of costs
sector study 2 A matter of choice? RSL rents and home ownership: a comparison of costs Key findings and implications Registered social landlords (RSLs) across the country should monitor their rents in
More informationPolicy Briefing Banish the Bedroom Tax Monster Campaign- Action Plan for Scotland
Policy Briefing Banish the Bedroom Tax Monster Campaign- Action Plan for Scotland From the Shelter Scotland policy library August 2013. All rights reserved. This document is only for your personal, non-commercial
More informationEarls Barton. Rural Housing Survey. Authors: A Miles & S Butterworth Date: October 2012
Earls Barton Rural Housing Survey Authors: A Miles & S Butterworth Date: October 2012 Swanspool House, Doddington Road, Wellingborough, Northamptonshire, NN8 1BP Tel: 01933 229777 DX 12865 www.wellingborough.gov.uk
More informationSpring Budget Submission to HM Treasury From the Association of Residential Letting Agents (ARLA) January 2017
Spring Budget Submission to HM Treasury From the Association of Residential Letting Agents (ARLA) January 2017 Background 1. ARLA is the UK s foremost professional and regulatory body for letting agents;
More informationSeptember 2016 RESIDENTIAL MARKET REPORT
September 2016 RESIDENTIAL MARKET REPORT The real estate investment market in Japan has had an abundance of capital (both domestic & foreign) over the past couple of years. This, along with the low (now
More informationTOTAL VALUE OF UK HOUSING STOCK PASSES 6 TRILLION MARK
NOT FOR BROADCAST OR PUBLICATION BEFORE 00.01 HRS ON WEDNESDAY 29 NOVEMBER 2017 In this review of the the UK Private Stock, Halifax tracks the value of private residential housing stock in the decade since
More informationMedian Income and Median Home Price
Homeownership Remains Unaffordable; Rental Affordability Showing Signs of Improvement Richard E. Taylor, Research Manager at MaineHousing MaineHousing has released the 217 Maine Homeownership and Rental
More information2017 Q1 PROPERTY MARKET REPORT
2017 Q1 PROPERTY MARKET REPORT OVERVIEW Whilst Q1 of 2016 was a strong start, the forecast for Q1 of 2017 was a little different. Initial predictions suggested 2017 would bring uncertainty caused by the
More informationRents for Social Housing from
19 December 2013 Response: Rents for Social Housing from 2015-16 Consultation Summary of key points: The consultation, published by The Department for Communities and Local Government, invites views on
More informationUDIA WA PROPERTY MARKET STATISTICS
UDIA WA PROPERTY MARKET STATISTICS OCTOBER 217 1 IN THIS ISSUE KEY TRENDS INDUSTRY UPDATE 3 4 ECONOMY RESIDENTIAL LAND DEVELOPMENT RESIDENTIAL PROPERTY SETTLEMENTS RESIDENTIAL PROPERTY MARKET RESIDENTIAL
More informationDecember 2017 Website. Lettings Policy (General Needs Housing)
December 2017 Website Lettings Policy (General Needs Housing) 1. Introduction CHS GROUP (CHS) is a charitable Housing Association which has a duty to ensure its homes are allocated to people in housing
More informationContents SEPTEMBER 2009
Contents Two Tier Market:...1 Overview & Commentary: The National Picture...2 Overview & Commentary: The Regional Picture...3 Overview & Commentary: Supply...3 Property Prices (National)...4 National Bedroom
More informationPrivate Rented Sector Priorities For London
National Landlords Association Private Rented Sector Priorities For London Richard Lambert Chief Executive Officer The Private Rented Sector Looking to the Future CIH London 28 June 2012 The National Landlords
More informationBOURNEMOUTH/ POOLE HOUSING MARKET AREA
BOURNEMOUTH/ POOLE HOUSING MARKET AREA 2011 Strategic Housing Market Assessment Update Summary report for: Borough of Poole Council January 2012 in association with Cont ents Contents 1. Background...1
More informationNote on housing supply policies in draft London Plan Dec 2017 note by Duncan Bowie who agrees to it being published by Just Space
Note on housing supply policies in draft London Plan Dec 2017 note by Duncan Bowie who agrees to it being published by Just Space 1 Housing density and sustainable residential quality. The draft has amended
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of St Thomas Residential
More informationAUSTRALIAN HOUSING: HIPSTER BREAKFAST CHOICES OR A NATION OF SPECULATING SPIVS? Housing is a human right
AUSTRALIAN HOUSING: HIPSTER BREAKFAST CHOICES OR A NATION OF SPECULATING SPIVS? A SERIES OF QUESTIONS Is Australia in a housing bubble that will inevitably burst? What drives housing inflation in Australia?
More informationHousing Bulletin Monthly Report
January 21 1 Housing Bulletin Monthly Report Most new homes built in second half of 29 25, 2, 15, 1, 5, Dec 7 Jan 8 Feb 8 mar 8 apr 8 Alberta s 29 housing starts increased 72.8 per cent over 28, suggesting
More informationData Note 1/2018 Private sector rents in UK cities: analysis of Zoopla rental listings data
Data Note 1/2018 Private sector rents in UK cities: analysis of Zoopla rental listings data Mark Livingston, Nick Bailey and Christina Boididou UBDC April 2018 Introduction The private rental sector (PRS)
More informationHomeLet Rental Index
HomeLet Rental Index HomeLet is the UK s largest supplier of tenant referencing to the lettings industry. The HomeLet Rental Index shows agreed rental prices, from over 3,000 letting agents each month,
More informationLocalism and the future of affordable home ownership. Cornwall Council. Louise Dwelly Strategic Affordable Housing Manager
Localism and the future of affordable home ownership Cornwall Council Louise Dwelly Strategic Affordable Housing Manager Service context in Cornwall Team based within Planning Service 18 staff including
More informationSupporting Older People Conference
Supporting Older People Conference B13: Building new homes in a changing financial landscape Speakers: Mark Hitchen Senior Policy Advisor Communities and Local Government Sponsored by: Chair: Piers Williamson
More informationHM Treasury consultation: Investment in the UK private rented sector: CIH Consultation Response
HM Treasury Investment in the UK private rented sector: CIH consultation response This consultation response is one of a series published by CIH. Further consultation responses to key housing developments
More informationTenancy Strategy
Tenancy Strategy 2018 2021 Glossary Affordability Housing and Planning Act 2016 Housing Strategy Housing Needs Assessment Local Housing Allowance Localism Act 2011 Social Rents St Leger Homes of Doncaster
More informationContents 3/24/2011. New delivery context. HCA role and remit. Delivering for local communities. HCA in North East, Yorkshire and the Humber
New look HCA funding new affordable housing NHF Building Neighbourhoods David Curtis 25 March 2011 Contents New delivery context HCA role and remit Delivering for local communities HCA in North East, Yorkshire
More informationAugust 2012 Design by Anderson Norton Design
August 2012 Design by Anderson Norton Design 020 7336 6992 Property Data Report 2012 Introduction 1 Commercial property by comparison UK commercial property s value in 2011 reached 717 billion, helped
More informationLANDLORDS CAUTIOUS AHEAD OF TAX CHANGES
FEBRUARY 2017 Q4 2016 LANDLORDS CAUTIOUS AHEAD OF TAX CHANGES Despite turbulence in the Private Rented Sector (PRS) dating back to the Government s 2015 Summer Budget, Paragon Mortgages latest PRS Trends
More informationImproving valuations and unlocking sector capacity
Improving valuations and unlocking sector capacity Speakers: Chair: Richard Petty Lead Director, Affordable Housing, Jones Lang LaSalle Carol Matthews Partner, Social Housing, Wright Hassall Andy Smith
More informationWorking together for more homes
Working together for more homes How housing associations and local authorities can tackle the housing crisis Executive summary The housing crisis in England means we need to build 275,000 homes per year
More informationHome Truths Fixing our broken housing market. Yorkshire and Humberside
Home Truths 2011 Fixing our broken housing market Yorkshire and Humberside HOME TRUTHS 2011 Fixing our broken housing market New signs of housing stress Economic recovery in Yorkshire and Humberside is
More informationESDS 31 st October 2011 Professor Paddy Gray and Ursula Mc Anulty University of Ulster
ESDS 31 st October 2011 Professor Paddy Gray and Ursula Mc Anulty University of Ulster Twentieth century largely a period of decline rent controls, growth of owner occupation and large scale redevelopment
More informationUK Office Market Report
UK Office Market Report Winter 21 211 will remain challenging for some cities, however, the muted development pipeline will help underpin rents. Prime yields have continued to harden, albeit at a slower
More informationFilling the Gaps: Active, Accessible, Diverse. Affordable and other housing markets in Johannesburg: September, 2012 DRAFT FOR REVIEW
Affordable Land and Housing Data Centre Understanding the dynamics that shape the affordable land and housing market in South Africa. Filling the Gaps: Affordable and other housing markets in Johannesburg:
More information2018 Real Estate Forecast Breakfast. Real Estate Market Update
2018 Real Estate Forecast Breakfast Central Oregon Association of REALTORS Real Estate Market Update Paul C. Bishop, PhD, CBE Vice President, Research NATIONAL ASSOCIATION OF REALTORS February 22, 2018
More informationMember briefing: The Social Housing Rent Settlement from 2015/16
28 May 2014 Member briefing: The Social Housing Rent Settlement from 2015/16 1. Introduction On Friday 23 May Government issued the final policy for Rents for Social Housing from 2015/16, following a consultation
More informationREAL ESTATE AND THE ECONOMIC OUTLOOK THROUGH 2013:
1 1 REAL ESTATE AND THE ECONOMIC OUTLOOK THROUGH 2013: Coping With A Different Kind Of Housing Recovery A Presentation To The Commercial Real Estate Education Summit Monrovia, California July 13, 2012
More informationAffordable Homes Service Plan 2016/17 and 2017/18
Report To: Housing Portfolio Holder 15 March 2017 Lead Officer: Director of Housing Purpose Affordable Homes Service Plan 2016/17 and 2017/18 1. To provide the Housing Portfolio Holder with an update on
More informationSocial rents policy: choices and trade-offs
Social rents policy: choices and trade-offs 5 November 2015 Social rent policy: choices and trade-offs Stuart Adam, Daniel Chandler, Andrew Hood and Robert Joyce Policy background and trade-offs Robert
More informationSpotlight Hertfordshire Residential Development 2017
Savills World Research UK Residential Spotlight Hertfordshire Residential Development 2017 SUMMARY Future opportunities for meeting Hertfordshire s housing need Strong house price growth: House prices
More informationThe Case for Investing in London s Affordable Housing
The Case for Investing in London s Affordable Housing Christine ME Whitehead with Tony Travers 1 LSE London June 2011 1 The authors are grateful Melissa Fernández, LSE London and Alex Fenton and Connie
More informationNETHERLANDS PRS REPORT
NETHERLANDS PRS REPORT SUMMER 218 THE NETHERLANDS HOUSING GAP IN A EUROPEAN PERSPECTIVE KEY POINTS Over the next ten years, the Randstad region is expected to have the highest ratio of new professional
More informationResponse to Communities and Local Government Committee Inquiry into capacity in the homebuilding industry
Response to Communities and Local Government Committee Inquiry into capacity in the homebuilding industry Page 1 of 7 1. Introduction This paper is LendInvest s response to the review by the Communities
More informationMarket rent. The rationale and out approach. James Gibson Sovereign Housing
Market rent The rationale and out approach James Gibson Sovereign Housing Growth in demand Post credit crunch PRS thriving 2006-2013 PRS households rose from 3.4 to 4.8 million Projected growth of 1.03
More informationBriefing: Rent reductions
First issued 22 December 2015 Revised and reissued 5 February 2016 Further revised 29 March 2016 Briefing: Rent reductions Supporting implementation Summary of key points: This briefing sets out how Housing
More informationTenancy Policy. 1 Introduction. 12 September Executive Management Team Approval Date: Review date: September 2018
Tenancy Policy Originator: Executive Management Team Approval Date: Policy and Strategy Team 12 September 2017 Review date: September 2018 1 Introduction 1.1 1.2 This Policy sets out how One Vision Housing
More informationResearch report Tenancy sustainment in Scotland
Research report Tenancy sustainment in Scotland From the Shelter policy library October 2009 www.shelter.org.uk 2009 Shelter. All rights reserved. This document is only for your personal, non-commercial
More informationAffordable housing rents how is it working in the current housing market? Martin Reid, Brighton & Hove City Council
Affordable housing rents how is it working in the current housing market? Martin Reid, Brighton & Hove City Council Brighton and Hove 273,000 people in 124,000 homes High property prices and low incomes
More informationSherston Parish Housing Needs Survey Survey Report February 2012 Wiltshire Council County Hall, Bythesea Road, Trowbridge BA14 8JN
Sherston Parish Housing Needs Survey Survey Report February 2012 Wiltshire Council County Hall, Bythesea Road, Trowbridge BA14 8JN Contents Page Parish summary 3 Introduction 3 Aim 4 Survey distribution
More informationHousing Needs Survey Report. Arlesey
Housing Needs Survey Report Arlesey August 2015 Completed by Bedfordshire Rural Communities Charity This report is the joint property of Central Bedfordshire Council and Arlesey Parish Council. For further
More informationGetting Started With Your Local Housing Market Assessment. A Step by Step Guide
Getting Started With Your Local Housing Market Assessment A Step by Step Guide November 2014 2 Getting Started With Your Local Housing Market Assessment Contents Background and Introduction 4 Stage 1a:
More informationQuarterly Review The Australian Residential Property Market and Economy
Quarterly Review The Australian Residential Property Released January 2018 Contents Introduction 3 Housing Market 4 Mortgage Lending 11 Housing Supply 17 Demographic Overview 20 Household Finances 22 National
More information21 March Development Update
21 March 214 Development Update Contact: Charlie Blagbrough Job Title: Policy Assistant, Investment Team Email: charlie.blagbrough@housing.org.uk Direct: 2 767 176 Reference: 1 Summary Development Update
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of St Thomas Residential
More informationPrivate Renting and Social Landlords: Can they help reduce inequality?
Private Renting and Social Landlords: Can they help reduce inequality? Presentation by Alice Belotti and Anne Power, LSE Housing and Communities on research funded by the International Inequalities Institute
More informationWorking Capital? The Investment Landscape for Housing Associations in London. Kevin Williamson Head of Policy National Housing Federation
Working Capital? The Investment Landscape for Housing Associations in London Kevin Williamson Head of Policy National Housing Federation Operating in the worst of times - perhaps not Bank of England Base
More informationPORTFOLIO VALUES PEAK
John Heron Managing Director Mortgages, Paragon HIGHLIGHTS Average market value of property portfolio reaches 1.7 million Average portfolio now 6% higher than pre-crisis peak Landlords expect portfolio
More informationAsking Price Index Released 12/02/16 February 2016
EMBARGOED UNTIL 12/02/16 HOME.CO UK ASKING PRICE INDEX February 2016 Released: 12/02/2016 1 of 6 Asking Price Index Released 12/02/16 February 2016 England Prices Take a Spring Leap Headlines England prices
More informationWest Surrey Strategic Housing Market Assessment
West Surrey Strategic Housing Market Assessment Guildford Summary Report October 2015 Prepared by GL Hearn Limited 280 High Holborn London WC1V 7EE T +44 (0)20 7851 4900 glhearn.com Contents Section Page
More informationRent setting Policy. Contents. Summary:
Rent setting Policy Summary: This policy sets out Genesis Housing Association s approach to rent setting and rent increases and decreases for all properties. The policy sets out how we will calculate and
More informationHousing Revenue Account Rent Setting Strategy 2019/ /22
Council 13 February, 2018 Housing Revenue Account Rent Setting Strategy 2019/20 2021/22 Report by Allister Short, Joint Director, Health and Social Care & Gary Fairley, Head of Finance and Integrated Service
More informationBriefing: Rent Convergence
30 September 2013 Briefing: Rent Convergence Summary of key points: The end of rent convergence threatens to cause issues with viability and capacity for some of our members. The Federation has communicated
More informationAppendix 1: Gisborne District Quarterly Market Indicators Report April National Policy Statement on Urban Development Capacity
Appendix 1: Gisborne District Quarterly Market Indicators Report April 2018 National Policy Statement on Urban Development Capacity Quarterly Market Indicators Report April 2018 1 Executive Summary This
More informationFunding future homes: Executive summary and discussion
Funding future homes: Executive summary and discussion Funding future homes Executive summary and discussion questions When it comes to building new homes housing associations are navigating one of the
More informationLondon Borough of Barnet Temporary Accommodation Procurement Policy
London Borough of Barnet Temporary Accommodation Procurement Policy Version Control Item Reason for Change Version Author Date 1. 2. 3. 4. 5. Last Review Date: Jan 2016 Next Review Date: April 2017 1 1.
More informationTenancy Policy Introduction Legal Framework Purpose Principles Policy Statement Tenancy Statement...
1 Tenancy Policy January 2014 Table of Contents Tenancy Policy... 1 Introduction... 2 Legal Framework... 2 Purpose... 3 Principles... 3 Policy Statement... 4 Tenancy Statement... 4 Tenancy Types... 5 Assured
More informationCROSS-COUNTRY HOUSING POLICY June 2016
Chartered Institute of Housing CROSS-COUNTRY HOUSING POLICY June 2016 This document has been produced by CIH policy staff across the UK to provide a basic summary of current housing law and policy on the
More informationARLA Members Survey of the Private Rented Sector
Prepared for The Association of Residential Letting Agents & the ARLA Group of Buy to Let Mortgage Lenders ARLA Members Survey of the Private Rented Sector Fourth Quarter 2010 Prepared by: O M Carey Jones
More information1200 Premier Drive, Suite 140 Chattanooga, TN Each office is independently owned and operated.
THIS MONTH IN REAL ESTATE K im aulston R REALTOR 1200 Premier Drive, Suite 140 Chattanooga, TN 37421 Each office is independently owned and operated. Cell: 423-316-4022 Office: 423-664-1600 Email: kcraulston@gmail.com
More informationMember consultation: Rent freedom
November 2016 Member consultation: Rent freedom The future of housing association rents Summary of key points: Housing associations are ambitious socially driven organisations currently exploring new ways
More informationHousing White Paper Summary. February 2017
Housing White Paper Summary February 2017 On Tuesday 7 February, the government published the Housing White Paper, aimed at solving the housing crises in England through increasing the supply of homes
More informationX. Xx. Evaluating requirements for market and affordable housing
X. Xx Evaluating requirements for market and affordable housing Evaluating requirements for market and affordable housing Professor Steve Wilcox Centre for Housing Policy University of York Professor Glen
More informationThe buy-to-let market
The buy-to-let market 16.1 Introduction...1 Fig 1: Buy-to-let & first time buyer mortgages, UK 2000-2006...1 16.2 Buy-to-let investors...2 Table 1: Number of buy-to-let sales, Cambridge sub-region (estimates),
More informationExtending the Right to Buy
Memorandum for the House of Commons Committee of Public Accounts Department for Communities and Local Government Extending the Right to Buy MARCH 2016 4 Key facts Extending the Right to Buy Key facts 1.8m
More informationReport to Barratt Homes 31 October Urban Extensions. Assessment of Delivery Rates. savills.co.uk
Report to Barratt Homes 31 October 214 savills.co.uk Contents 1. Summary and Conclusions 1 2. Introduction 3 2.1. Methodology... 3 3. The Planning Process 4 3.1. Infrastructure Requirements... 6 3.2. Site
More information2015 a turning point for housing. Derek Long Director arc 4
2015 a turning point for housing Derek Long Director arc 4 derek.long@arc4.co.uk arc 4 A longstanding housing and data consultancy Housing market analysis Private rented sector analysis Affordable Housing
More information